Automotive industry CEOs “Very Confident” about growth

06/16/2011

Could the confidence of automotive executives trickle down in the form of new orders and projects to the plastics processing and moldmaking industries? By all reports, and with investment in injection molding machines and other equipment up sharply, some of it already has. With the automotive industry rebounding and growth on the horizon, PricewaterhouseCoopers' Autofacts Q1 2011 survey of 50 automotive CEOs in 20 countries shows that most believe the worst is over. PwC Autofacts predicts that global light vehicle production will increase by 26.8 million units from 2010 to 2017.

"So it's not surprising that our survey results reflect renewed optimism on the part of automotive CEOs," said the report's authors, which includes Rick Hanna, global automotive leader; David Breen, North American automotive leader; and Paul McCarthy, automotive strategy leader. "A full 90% (of those surveyed) are somewhat or very confident of achieving revenue growth over the next 12 months," according to the report. "That includes 52% that are very confident - in marked contrast with the mood last year, when only 20% of automotive CEOs were very confident about the short-term prospects for growth."...Read more www.k-online.de

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